Ketel One owner offers $285 million for Dutch gin maker Lucas Bols

AMSTERDAM (Reuters) – The maker of Ketel One vodka has launched a management-backed offer to buy Dutch gin and spirits maker Lucas Bols for 269.5 million euros ($284.51 million), the companies said on Monday.

The Nolet Group, also of the Netherlands, said it has agreed to offer 18 euros in cash per share for Bols, a 76% premium to Bols’ closing price on Oct. 6 of 10.20 euros.

Bols is the maker of Bols gins, passion-fruit drink Passoã, and Galliano liqueur. Family-owned Nolet makes Ketel One and Nolet’s Gin.

“This will create a Dutch champion in the global spirits and cocktail market and preserve valuable heritage and growth potential for the long term,” they said.

($1 = 0.9472 euros)

(Reporting by Toby Sterling, Editing by Louise Heavens)